ES Fri 8-5-11

On Thursday the market opened below the value area and never returned to it so not giving the Market Profile trader a chance to get short from the VAL. Considering the size of the down day we had today I'm surprised that we only got one single print out of it in the Q bracket at 1206 even.

Click image for original size
ES overnight for 5 Aug 2011
Downgrade or no downgrade, the status quo is deplorable indeed... in the USA, Europe, Japan... a downgrade at this point is just a symbolic kick in the leg.